This high yielding property was built circa 1902, and renovated in 1998, which included an overhaul of the central heating system. It has 12 apartments, each with its own basement storage area. There is a paved courtyard to the rear. Current yield of 11.4%
PV249 - There lies around 22% latent potential within this property which can be released through careful and active management in the first 6 months of ownership The property is set over 4 floors and has been very well refurbished and consists of 13 units
This tenanted apartment house offers an actual yield of 10% with a potential for 24% !! The apartment house offers eight residential (519m) and two commercial units (80m). Currently four residential apartments (255m) and two commercial units (80m) are vacant. The current annual rental income is 10,356 euros, however, fully tenanted the income could exceed 25,000 euros - equivalent to a yield of 24% !! The four storey, centrally heated property dates back to 1901 however was modernised in 1990. The total floor area is 598m2 and the plot size is 612m. Some level of renovation would be a benefit on the second floor. The property is in Aue which is a town in the Free State of Saxony, Germany, with 18,000 inhabitants. Today, it is developing its tourism industry and is located close to a large national park area. Historically a mining town which had been known for its copper, titanium, and kaolinite, which was used for Meissen porcelain. Aue was a centre of engineering and cutlery during the German Democratic Republic. Aue is situated 30km south-west of Chemnitz and 110km south of Leipzig. This property is available at a bargain price of only 173 euros per m2 !!
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